COLA

Social Security Benefits to Increase in 2018

October 13, 2017 • By

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Last Updated: October 13, 2017

man and woman outside smiling When we announce the annual cost-of-living adjustment (COLA), there’s usually an increase in the Social Security and Supplemental Security Income (SSI) benefit amount people receive each month. Federal benefit rates increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W).

The CPI-W rises when prices increase, making your cost of living go up. This means prices for goods and services, on average, are a little more expensive. The COLA helps to offset these costs. As a result, more than 66 million Americans will see a 2.0 percent increase in their Social Security and SSI benefits in 2018.

Other changes that will happen in January 2018 are based on the increase in the national average wage index. For example, the maximum amount of earnings subject to Social Security payroll tax will increase to $128,700. The earnings limit for workers younger than “full” retirement age will increase to $17,040 and the limit for people turning “full” retirement age in 2018 will increase to $45,360.

You can find more information about the 2018 COLA here.

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About the Author

Jim Borland, Acting Deputy Commissioner for Communications

Jim Borland, Acting Deputy Commissioner for Communications

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Comments

  1. Bill b.

    Getting the ok to start poisoning food and drink supplies worldwide so be ready!!!!

  2. Bill b.

    It sounds like ANGENT PALMER needs poison dumped down his throat !!!

  3. Agent p.

    We’re going to start poisoning people’s drinks on your denials we won’t tell you who or when ????

  4. MR, P.

    These people will but rape you I wouldn’t trust them eighther there ASSHOLES

  5. darrell h.

    i need a copy of my ss award letter

  6. robert t.

    when d0 i get my ss in dec

    • V.V.

      Hi Robert, thank you for using our blog. Social Security benefits are paid the month after they are due. So, for instance, if your benefits begin with the month of February, you will receive your first benefit payment in March. The exact payment date is determined by your date of birth. For future pay days, you may find the Schedule of Social Security Payments calendars useful.

  7. Jamal S.

    Working after retirement. Do I still need to pay federal taxes, social security and for medicare as deductions from my pay?
    Thanks,
    Jamie

    • V.V.

      Hi Jamie, thank you for your question. Everyone working in covered employment or self-employment regardless of age or eligibility for benefits must pay Social Security taxes.

      However, keep in mind that if you continue to work while receiving retirement benefits, your monthly benefit amount may increase. As long as you continue to work and receive benefits, we will check your record every year to see whether the additional earnings will increase your monthly benefit. If there is an increase, we will send you a letter telling you of your new benefit amount. You can call our toll free number at 1-800-772-1213 for further assistance. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Thanks!

  8. Amy T.

    Well start killing off the baby’s again on your judges denials and time sound like a deal won’t tell u when .

  9. Jaimie M.

    I’ll kill him if I see him

  10. Jaimie M.

    I W A N T T O S E E S O M E O N E K I L L B E N S A N D S H I T D O W N H I S T H R O A T

Comments are closed.